ARRAY to Buy Shoals in $1.32 Billion All-Stock Deal
ARRAY Technologies and Shoals Technologies Group agreed to merge in an all-stock deal valuing Shoals at about $1.32 billion.
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01:16:49 PM UTC
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By Rob CurranShares of Array Technologies and rival Shoals Technologies rallied premarket after the solar-power companies agreed to merge.Array would be the legal acquirer in the transaction and would serve as the corporate parent of the postmerger entity, the companies said. Shoals shareholders ar…
ARRAY Technologies NASDAQ:ARRY and Shoals Technologies Group NASDAQ:SHLS said on Wednesday they had agreed to merge in an all-stock deal valuing Shoals at about $1.32 billion, combining their solar equipment businesses to expand product offerings and cut costs.The deal brings together ARRAY's struc…